Shares of Primero Mining Corp. (NYSE:PPP) dropped 1.7% during mid-day trading on Wednesday . The company traded as low as $2.23 and last traded at $2.26, with a volume of 453,127 shares. The stock had previously closed at $2.30.

PPP has been the topic of a number of research reports. Royal Bank Of Canada lifted their price objective on Primero Mining Corp. from $2.25 to $3.00 in a research note on Tuesday, April 12th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $3.60 price objective (up previously from $3.10) on shares of Primero Mining Corp. in a research note on Sunday, May 1st. TD Securities reaffirmed a “buy” rating and issued a $3.50 price objective (down previously from $4.00) on shares of Primero Mining Corp. in a research note on Saturday, May 7th. Paradigm Capital reaffirmed a “buy” rating and issued a $3.75 price objective (down previously from $4.50) on shares of Primero Mining Corp. in a research note on Saturday, May 7th. Finally, Zacks Investment Research raised Primero Mining Corp. from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Wednesday, June 29th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of C$3.32.

The company’s market cap is $286.06 million. The firm’s 50-day moving average is $2.21 and its 200-day moving average is $1.93.

Primero Mining Corp. (NYSE:PPP) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.10. The company had revenue of $59.44 million for the quarter, compared to the consensus estimate of $83.97 million. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. On average, analysts forecast that Primero Mining Corp. will post ($0.01) earnings per share for the current year.

A hedge fund recently raised its stake in Primero Mining Corp. stock. OppenheimerFunds Inc. increased its position in Primero Mining Corp. (NYSE:PPP) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,630,000 shares of the company’s stock after buying an additional 340,000 shares during the period. OppenheimerFunds Inc. owned about 2.23% of Primero Mining Corp. worth $8,185,000 at the end of the most recent quarter.

Primero Mining Corp. is a Canada-based precious metals producer. The Company is focused on building a portfolio of precious metals assets in the Americas through acquiring, exploring, developing and operating mineral resource properties. It operates in the Mexico and Canada segments. It owns two producing properties: the San Dimas gold-silver mine, located in Mexico’s San Dimas district, on the border of Durango and Sinaloa states and the Black Fox mine located in the Township of Black RiverÔÇÉ Matheson, Ontario, Canada.

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